Stephen Fleming is adamant New Zealand will bounce back from their record-breaking defeat by Australia as they head into the World Cup semi-finals.

New Zealand, without sidelined bowlers Shane Bond and Jacob Oram, conceded 348 for six, with Matthew Hayden making 103, before being bowled out for 133 as they suffered a 215-run defeat - the largest ever inflicted upon a Test nation at a World Cup.

One consolation for New Zealand captain Fleming was that his side were already in the semi-finals, where they play Sri Lanka in Jamaica on Tuesday.

"If there is a positive, we haven't wasted a good performance," said Fleming after Friday's loss where opener Peter Fulton's 62 was the lone notable score in an innings that barely lasted 25 overs.

"We haven't wasted anything at all really - so we're just going to get up, wipe it off and look forward.

"Now it comes down to two games, and if we start analysing too much we won't look forward to what is coming up - we have an opportunity to win two games for the World Cup."

During their 3-0 whitewash of an under-strength Australia during February's Chappell-Hadlee series in New Zealand, Fleming's men posted two of the largest totals to win batting second in one-dayers - 340 for five in Auckland and 350 for nine in Hamilton.

But with the likes of fast bowler Mark Gillespie's six wicketless overs costing 67 runs and left-arm quick James Franklin, whose three wickets came at an expensive 74 runs in eight overs, Fleming said it was unrealistic to expect the batsmen to keep chasing down such huge scores.

"We were just totally outplayed. Once again, we've gone for more than 340. It is a concern. It happened twice in New Zealand, and again here.

"If you keep going for that many runs, the flip side is at some point you are going to get bundled out cheaply."

However, Fleming said he expected Bond, who has taken 12 wickets at under 13 apiece this tournament and who missed the Australia game because of a stomach complaint, would be fit for the semi-final.

He is also confident all-rounder Oram will be ready too.

Fleming said: "We are a dangerous side. We can play like we did today, or we can play a semi-final and chase down 350. We are even more dangerous now that we have two games to win."

Asked if South Africa could beat Australia in Wednesday's second semi-final in St Lucia, Fleming replied: "I do and that's because it's a one-off game.

"It could be the toss, Australia have a bad day or Herschelle Gibbs plays extremely well. There are so many factors in one day cricket."

New Zealand suffered a six-wicket defeat against 1996 champions Sri Lanka on April 12 in a Super Eights game and Fleming said: "I think they're the most balanced bowling attack here. They are unorthodox and present massive challenges to our batters.

"But the flip side of that is that their batting is probably not as strong as other teams around.

"We feel if we can get through their top order we can keep it to a score or defend a score that is not as high as what you need against Australia."